Which exchange would be recommended for a new cypto user?

smyslov

sr. member

Activity: 2030

Merit: 269

Quote from: bystandposter on May 07, 2020, 09:48:09 PM

I'm pretty new to cypto-exchanges and have been trying to get more into learning about how to transfer funds between accounts (real money to crypto). I've heard about various exchanges like Poloniex, but I was wondering if there is one that is particularly beginner friendly and not full of information so someone new the this wouldn't get confused.

When I was just starting out I also encounter that issue but I eventually settle for the best two exchange that offer the best security and features, and these exchanges are Kucoin and Binance, they are reliable and secured exchange, although I have account on other exchanges, but if you are a new trader or holders these two are the best exchange in the industry.

simmonjoshua

newbie

Activity: 7

Merit: 0

You can go for Coinbase. Coinbase has a wide array of services but their main service allows users to buy and sell
Bitcoins. You can do it through bank account, debit card or credit card. The rates you’ll get on Coinbase are fair in general, however they have terrible customer service.

UserU

hero member

Activity: 2254

Merit: 537

My passive income eBook @ tinyurl.com/PIA10

Quote from: ?? on ??

I used their exchange once to sell small amount of Bitcoin since they support my local currency and bank. The volume is low, but i don't experience any problem.

Since i only used it once, i wouldn't recommend it due to low volume and i've no idea how secure is their exchange, but i'm sure it's not plain scam.

Most newbies might come across it, I was one of them back then because of the ignorance of simply finding the quickest way to convert fiat to crypto, and vice versa.

After I discovered Remitano, I was like wtf, the fees were lower than Luno. Although there were more steps on Remitano, I feel like it's more worth it.

callyf

jr. member

Activity: 203

Merit: 2

Quote from: UserU on May 08, 2020, 10:01:51 AM

Quote from: bob123 on May 08, 2020, 09:43:37 AM

Luno..

Code:

Domain Name: luno.com
Updated Date: 2020-03-26T10:10:47Z

Sure.. there literally is not a single more trustworthy exchange than some new random unreliable and unknown exchange which got the domain 1.5 months ago.
And not giving out any private informatics about the company or the owner of the domain also makes it really trustworthy. Roll Eyes

@OP
There are quite a few reliable exchanges. Depending on where you are from, you can have quite big choice.
But.. don't touch luno. Don't touch any new exchange at all. Stay with the most known and reputable ones.

Luno is a trusted exchange registered since 2013; they have been licensed in several countries not too long ago. I've used their service before, just that their fees are a tad higher than the rest.

https://en.m.wikipedia.org/wiki/Luno_(company)

You should look at the date registered, not updated.

Yes sir you correct now times the more the advertising the more the chance of fake

Real company now no advertising and they are real.

UserU

hero member

Activity: 2254

Merit: 537

My passive income eBook @ tinyurl.com/PIA10

Quote from: bob123 on May 08, 2020, 10:11:01 AM

Oh, you are right!

Code:

Domain Name: luno.com
Creation Date: 2001-01-24T11:38:27Z

Wow! It seems they had their exchange online 8 years before bitcoins first block got mined!

Whoa, they even managed to beat Satoshi's envision of Bitcoin by 7 years? Take that, Satoshi! Grin

All jokes aside, maybe they've been in some other business before Bitcoin came along? I've not heard of Luno until late-2017.

AakZaki

legendary

Activity: 2338

Merit: 1084

zknodes.org

Is your Local Exchange not available in your country that is easy to use?
Local exchange can be the first place for you to transfer your real money on crypto.

For global exchange, you can use Binance, Coinbase, Bittrex, Poloniex, Kraken, Huobi, Okex etc.

But you should know, that every Exchange applies KYC to find out their customer and so you can make Deposits and Withdraw smoothly.

bob123

legendary

Activity: 1624

Merit: 2481

Quote from: UserU on May 08, 2020, 10:01:51 AM

Luno is a trusted exchange [...]

I guess trusted is a relative term.
I wouldn't trust that exchange at all. No reason to use an unknown exchange with low trading volume and unknown security measurements if you can use way better exchanges.

Quote from: UserU on May 08, 2020, 10:01:51 AM

You should look at the date registered, not updated.

Oh, you are right!

Code:

Domain Name: luno.com
Creation Date: 2001-01-24T11:38:27Z

Wow! It seems they had their exchange online 8 years before bitcoins first block got mined!

UserU

hero member

Activity: 2254

Merit: 537

My passive income eBook @ tinyurl.com/PIA10

Quote from: bob123 on May 08, 2020, 09:43:37 AM

Luno..

Code:

Domain Name: luno.com
Updated Date: 2020-03-26T10:10:47Z

Sure.. there literally is not a single more trustworthy exchange than some new random unreliable and unknown exchange which got the domain 1.5 months ago.
And not giving out any private informatics about the company or the owner of the domain also makes it really trustworthy. Roll Eyes

@OP
There are quite a few reliable exchanges. Depending on where you are from, you can have quite big choice.
But.. don't touch luno. Don't touch any new exchange at all. Stay with the most known and reputable ones.

Luno is a trusted exchange registered since 2013; they have been licensed in several countries not too long ago. I've used their service before, just that their fees are a tad higher than the rest.

https://en.m.wikipedia.org/wiki/Luno_(company)

You should look at the date registered, not updated.

bob123

legendary

Activity: 1624

Merit: 2481

Quote from: Towerbreeze on May 08, 2020, 09:31:56 AM

I only trust binance and Luno

Luno..

Code:

Domain Name: luno.com
Updated Date: 2020-03-26T10:10:47Z

Sure.. there literally is not a single more trustworthy exchange than some new random unreliable and unknown exchange which got the domain 1.5 months ago.
And not giving out any private informatics about the company or the owner of the domain also makes it really trustworthy. Roll Eyes

@OP
There are quite a few reliable exchanges. Depending on where you are from, you can have quite big choice.
But.. don't touch luno. Don't touch any new exchange at all. Stay with the most known and reputable ones.

Towerbreeze

member

Activity: 166

Merit: 10

Quote from: bystandposter on May 07, 2020, 09:48:09 PM

I'm pretty new to cypto-exchanges and have been trying to get more into learning about how to transfer funds between accounts (real money to crypto). I've heard about various exchanges like Poloniex, but I was wondering if there is one that is particularly beginner friendly and not full of information so someone new the this wouldn't get confused.

Which ever country you are from binance got you covered, you can now deposit Fiats to binance and buy Bitcoin direct on the exchange, in the past I use Luno, this platform supports all countries as well but mind you KYC is a must on both, localbitcoin is a bad experience

I only trust binance and Luno

UserU

hero member

Activity: 2254

Merit: 537

My passive income eBook @ tinyurl.com/PIA10

Like some have mentioned, I'd go for Binance. Veteran player in the market.

Also take note that more exchanges are now giving interest by maintaining a balance. Binance is one of them.

actmyname

copper member

Activity: 2562

Merit: 2510

Spear the bees

LocalBitcoins has its drawbacks and I'd generally advise against it for new users of Bitcoin, especially as human error reaches drastic levels when you're dealing with novel financial transactions. It's important to actually look into your various options (don't take advice blindly/at face value) and OP would likely benefit from putting some extra time into something that involves money.

A lot of exchanges have KYC and newer crypto users might shrug it off as an unpreventable sacrifice for accessibility, but it's important to really figure out what happens when you decide to use certain platforms.

mk4

legendary

Activity: 2870

Merit: 3873

📟 t3rminal.xyz

Quote from: ?? on ??

And use exchange without KYC not so good choise and don't give enough features

Better privacy has it's own drawbacks, and it's completely up to the person if he/she wants to prioritize his/her privacy and anonymity(Bisq), or prioritize using a platform that has far better ease-of-use and better features(Coinbase, etc).

20kevin20

legendary

Activity: 1134

Merit: 1599

I think most popular centralized exchanges out there are newbie friendly. As soon as you know what "Assets", "Withdraw" and "Deposit" means, you should be fine. If you use non-KYC exchanges, make sure you choose a reputable one. Also do a quick "X scam" (where X is the exchange's name) search before registering to check if there are valid and active accusations against them.

If you want a decentralized exchange that is newbie-friendly, Atomic DEX is your choice but they lack the volume.

One important thing is that you should make sure to toroughly read the Terms and Conditions before registering & depositing on a website any amount of coins. As soon as you accept the Terms and Conditions, if they have KYC and AML policies and you are not willing to share your personal information, expect to be asked for them at a certain point if and when they consider your account/transactions to be suspicious.

Just raising up this tip to avoid a future "COINBASE SCAMMED ME" thread on this forum. Keep your funds safe.

bakasabo

legendary

Activity: 2520

Merit: 1218

I would recommend Binance.

User interface is friendly and easy to learn what is where.
You can directly buy cryptocurrency with your card.
Lots of trading pair.
Good security and SAFU fund.
Has mobile app (if needed).

TheJadedKultus

newbie

Activity: 1

Merit: 0

For the functions you are seeking, Both a Crypto exchange and Fiat exchange, you've hit the nail on the head, there has been many "trustworthy" exchanges pull exit scams over the years (yes a new account as my old one has been terminated and mods wont open it up again, But I've been here a long time

and been involved with Everything from MEC and it's success to Noble and it's failures) but back on topic, Polonex has been around for many years and has so far never done anything I would call overly questionable as a pose to the weeks leading up to Cryptsy's exit or MT Gox.. I was one of the lucky ones to get my coins back there, Go poloniex as you are a new user and it's important to have a good experience, The others mentioned so far in this thread are relatively new exchanges by comparison and I wouldn't send my own friend who was a first timer to any of them, I'd send them somewhere like Polo

(Mprep, can I has my 1 merit now so I can go talk to my friends again please :p <3 )

sheenshane

legendary

Activity: 2534

Merit: 1233

Quote from: bystandposter on May 07, 2020, 09:48:09 PM

snipped-
I'm pretty new to cypto-exchanges ....

I may advise no need to hurry in the trading business, you should have to sharpen first your knowledge and skills towards trading. There are too many newbies that have been failed of trading because they are eagerly pushing themselves into trading even though they'd lack knowledge on it. If this is your first time in trading dont put a big amount when you are trying, the risk was always there.

I heard newbies prefer to trade with copy trade service and that is the eToro exchange platform. They allow newbies that can copy trades of more experienced traders on their platform but they had a minimum amount to deposit before you can start to trade.

For further crypto exchanges comparison info, this might will help you. Crypto exchanges comparison [trade fee + listing fee + age + mobile app + more!]

CryptohunterX

jr. member

Activity: 41

Merit: 4

You can try
COINBASE https://www.coinbase.com/
BINANCE https://www.binance.com/en

A common way to cash out Bitcoin is through a third-party exchange, such as Coinbase, Kraken, or Bitstamp. (Be carefull with phising)

mk4

legendary

Activity: 2870

Merit: 3873

📟 t3rminal.xyz

A recommended fiat to crypto exchange would completely depend on what country you're in, and what kind of information you want(or don't want) to disclose.

Fiat to crypto exchange without KYC/AML(not noob friendly): Bisq[1]
Fiat to crypto exchange with KYC/AML(noob friendly): Kraken[2], LocalBitcoins[3]
Crypto to crypto exchange currently without KYC/AML(noob friendly): Binance[4]

Ultimately, only use exchanges for what they're for: exchanging assets. Always leave funds on non-custodial wallets[5]. For more information about the types of wallets: https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151.

[1] https://bisq.network/
[2] https://kraken.com/
[3] https://localbitcoins.com/
[4] https://binance.com/
[5] https://cryptosec.info/wallets/#noncustodial

bystandposter

newbie

Activity: 13

Merit: 1

I'm pretty new to cypto-exchanges and have been trying to get more into learning about how to transfer funds between accounts (real money to crypto). I've heard about various exchanges like Poloniex, but I was wondering if there is one that is particularly beginner friendly and not full of information so someone new the this wouldn't get confused.

Topic: Which exchange would be recommended for a new cypto user? (Read 342 times)